TD Cowen Cuts Mirum Pharmaceuticals (NASDAQ:MIRM) Price Target to $140.00

Key Points

• TD Cowen lowered Mirum Pharmaceuticals’ price target to $140 from $145 while maintaining a “buy” rating, implying roughly 49% upside from the stock’s $94.01 price.
• Mirum shares fell 11.1% to $94.01. The decline followed quarterly EPS of a $1.06 loss, worse than the expected $0.74 loss, despite revenue of $176.24 million that exceeded estimates and rose 37.9% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $137.33, although concerns include an unexpected FDA Phase 3 request and recent insider selling.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) had its target price reduced by equities researchers at TD Cowen from $145.00 to $140.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's target price would indicate a potential upside of 48.93% from the stock's current price.

MIRM has been the topic of several other research reports. Evercore reiterated an "outperform" rating and issued a $138.00 price target on shares of Mirum Pharmaceuticals in a report on Thursday, May 7th. Weiss Ratings lowered shares of Mirum Pharmaceuticals from a "sell (d)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $165.00 target price on shares of Mirum Pharmaceuticals in a research note on Thursday, May 7th. Robert W. Baird set a $123.00 price target on shares of Mirum Pharmaceuticals in a research report on Thursday. Finally, Wolfe Research began coverage on shares of Mirum Pharmaceuticals in a report on Tuesday, May 19th. They issued an "outperform" rating and a $145.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.33.

Mirum Pharmaceuticals Stock Down 11.1%

Shares of Mirum Pharmaceuticals stock traded down $11.78 during trading on Thursday, reaching $94.01. The company's stock had a trading volume of 2,358,378 shares, compared to its average volume of 894,935. The company has a quick ratio of 1.99, a current ratio of 2.09 and a debt-to-equity ratio of 1.28. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -6.93 and a beta of 0.52. The company has a 50-day simple moving average of $110.46 and a two-hundred day simple moving average of $101.77. Mirum Pharmaceuticals has a 1-year low of $54.74 and a 1-year high of $130.00.

Mirum Pharmaceuticals (NASDAQ:MIRM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.32). The business had revenue of $176.24 million for the quarter, compared to analysts' expectations of $166.33 million. Mirum Pharmaceuticals had a negative return on equity of 11.28% and a negative net margin of 140.24%.Mirum Pharmaceuticals's revenue was up 37.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.12) EPS. As a group, equities analysts forecast that Mirum Pharmaceuticals will post -2.01 earnings per share for the current year.

Insider Transactions at Mirum Pharmaceuticals

In other Mirum Pharmaceuticals news, SVP Jolanda Howe sold 2,721 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $120.00, for a total transaction of $326,520.00. Following the sale, the senior vice president directly owned 3,114 shares in the company, valued at $373,680. This represents a 46.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher Peetz sold 30,000 shares of Mirum Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $95.84, for a total value of $2,875,200.00. Following the completion of the transaction, the chief executive officer owned 194,309 shares of the company's stock, valued at approximately $18,622,574.56. This trade represents a 13.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 67,155 shares of company stock worth $7,185,662 over the last ninety days. Company insiders own 8.32% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIRM. Janus Henderson Group PLC increased its holdings in shares of Mirum Pharmaceuticals by 21.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,065,308 shares of the company's stock valued at $479,050,000 after acquiring an additional 1,067,722 shares during the last quarter. State Street Corp raised its position in Mirum Pharmaceuticals by 59.2% in the 4th quarter. State Street Corp now owns 2,143,992 shares of the company's stock valued at $169,354,000 after purchasing an additional 797,088 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Mirum Pharmaceuticals by 566.8% during the third quarter. Wellington Management Group LLP now owns 790,689 shares of the company's stock worth $57,965,000 after buying an additional 672,118 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Mirum Pharmaceuticals in the 2nd quarter valued at approximately $78,434,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Mirum Pharmaceuticals by 709.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 612,318 shares of the company's stock valued at $44,889,000 after buying an additional 536,674 shares during the last quarter.

Mirum Pharmaceuticals News Summary

Here are the key news stories impacting Mirum Pharmaceuticals this week:

• Positive Sentiment: Mirum reported second-quarter revenue of $176.24 million, above the $166.33 million analyst consensus, with sales up 37.9% year over year. Growth was driven by Livmarli and the company’s bile-acid products. Mirum's Q2 Earnings Lag Estimates, Revenues Beat, 2026 View Raised
• Positive Sentiment: The company raised its 2026 revenue outlook to $680 million-$700 million, above the roughly $675 million consensus estimate, supporting the long-term commercial growth story.
• Positive Sentiment: Despite lowering their targets, Citizens JMP maintained a “market outperform” rating at $137, while HC Wainwright retained a “buy” rating with a $140 target—both implying substantial upside based on the referenced price levels. Citizens Says FDA’s Unexpected Phase 3 Request Clouds Mirum’s Near-Term Outlook
• Neutral Sentiment: Analysts cut price targets from $146 to $137 and from $185 to $140, signaling reduced near-term expectations but continued confidence in Mirum’s longer-term prospects.
• Negative Sentiment: The FDA’s unexpected Phase 3 request introduces potential development delays, higher costs and greater uncertainty around Mirum’s pipeline, prompting the sharp investor reaction.
• Negative Sentiment: Mirum’s quarterly loss was wider than expected—reported EPS was approximately $1.06 below zero versus a consensus loss of $0.74—and the loss expanded from the prior year’s $0.12 per-share loss. Mirum Pharmaceuticals Quarterly Earnings Report
• Negative Sentiment: Senior Vice President Jolanda Howe sold 1,840 shares worth approximately $193,734 under a pre-arranged Rule 10b5-1 plan. While scheduled selling reduces its signaling value, the transaction cut her direct holdings by about 59%.

Mirum Pharmaceuticals Company Profile

Mirum Pharmaceuticals, Inc is a late-stage biopharmaceutical company dedicated to the development and commercialization of innovative therapies for rare cholestatic liver diseases. The company's primary focus lies in addressing the unmet medical needs of patients suffering from genetic and progressive forms of pediatric liver disorders, where limited treatment options currently exist.

Mirum's lead product candidate, maralixibat (Livmarli), is an ileal bile acid transporter inhibitor designed to reduce systemic bile acid accumulation and alleviate associated pruritus and liver damage.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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